Santos Brasil quarter throughput grows 11.3% to 357,700 containers

Santos Brasil ended 3Q22 with an 11.3% container throughput growth (compared to 3Q21) in its three container terminals – Santos, Imbituba, and Vila do Conde, totaling 357,732 units. Such a volume was only made possible by the seasonal characteristics of the quarter, a period in which industry and retail intensify imports of inputs and consumer goods to meet the demand in year-end sales.

Tecon Santos saw 315,658 containers, up 12.4% from the same period last year, reflecting seasonality, with an increase in long-haul volumes (12.4%), driven by both imports and exports, and cabotage (12.1%).

At Tecon Imbituba, 14,649 containers were handled in the quarter, up 29.4%, maintaining the cabotage growth trend observed since the beginning of 2022, driven by rice shipments. On the other hand, TCG saw 21,348 tonnes of general cargo, down 70.3% compared to last year, due to the reduction in pulp shipments for export.

Tecon Vila do Conde saw the movement of 27,425 containers in 3Q22, down 6.3% compared to 3Q21, still due to the reduced availability of empty containers available for export cargo at the port due to global logistical bottlenecks. However, the tendency is for things to return to an average level.

In 3Q22, container storage at Santos Brasil Logística reached 19,474 units (an increase of 1.0%), a positive result keeping in mind that 3Q21 presented abnormally high marks due to the intense import flow to rebuild inventories in the industry and post-pandemic retail market. In addition, integrated logistics services continue on a growing trajectory, such as customs warehouse operations, cross-docking, inventory management, and distribution.

TEV handled 76,619 vehicles in 3Q22, an increase of 81.7% compared to the same quarter last year, with 67,816 units exported (+78.2%) and 8,803 imported (+114.5%). In the period, there was an increase in agricultural machinery and equipment exports for the civil construction sector compared to 3Q21. Heavy vehicles represented 8.0% of the total volume.

Santos Brasil‘s consolidated net revenue in 3Q22 grew 31.6% compared to 3Q21, totaling R$ 521.9 million, leveraged mainly by the increase in the average earnings in all business units, especially Tecon Santos, the result of contractual renegotiations in the quay and storage services.

EBITDA totaled R$215.4 million in 3Q22, up 41.7% versus 3Q21, the company’s new quarterly record since 2012. The EBITDA margin was 41.3%, amounting to R$215.6 million. Net income in the quarter was R$ 109.7 million (growth of 64.5% compared to 3Q21), with a net margin of 21.0%. The company’s net income totaled R$306.4 million in the first nine months of the year, with a net margin of 20.9%.

In 3Q22, investments totaled R$ 110.6 million, in continuity with the expansion, modernization, and improvement projects in the business units, with emphasis on Tecon Santos, Tecon Vila do Conde, and the liquid bulk terminals in Itaqui, in addition to investments to increase capacity and efficiency in Santos Brasil Logística operations.

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